Five Ways To Get More Cash From Your Business

Five Ways To Get More Cash From Your Business

AZ Business Magazine by Jerry Mills   As CEO of B2B CFO®, I regularly talk about our motto which is, “Cash. We help you get it®”. When talking about how we help our clients get more cash, I find that there is generally a misconception. Most people think that there are only two ways to get more cash: the first one being taking a traditional route of talking to banks about loans, and the second trying to get an investor to infuse more cash into your business. I am going to present to you five ways to get more cash from your business. These five steps do not involve taking on more debt nor do they involve diluting your equity: 1. Try to cut back on costs Yes, this is a pretty obvious way to get more cash into your business, but it does take a concerted effort. One of the easiest ways to cut cost is to ask your service providers to re-bid for your business. Just because they are working with you now doesn’t mean that they are the best fit for your business in terms of cost or relationship. This can be particularly true in the following areas: insurance, benefits, telephone, credit card services and office supplies. These are all examples that can be negotiated and significant cost savings realized. Saving even three or four percent of operating expenses can be the difference between breaking even and generating significant cash. 2. Sell more or charge more This may seem obvious, but you might find there is less opposition than you may think. Look at what your competition is...
Jerry Mills: Breakthrough CFO Model

Jerry Mills: Breakthrough CFO Model

The company’s upcoming 25th anniversary and a recent string of awards are solid validation of the pioneering concept on which Jerry Mills, founder and chief executive officer of Phoenix-based B2B CFO, founded his company. By Alison Stanton| October 31, 2011 The company’s upcoming 25th anniversary and a recent string of awards are solid validation of the pioneering concept on which Jerry Mills, founder and chief executive officer of Phoenix-based B2B CFO, founded his company. Back in the mid-1980s, while he was a manager with Arthur Andersen & Company, Mills came up with the idea of creating a company that would provide CFO services to small and mid-market companies, offering business owners solutions that would help improve any cash flow issues as well as the overall organization of the company. To support his theories, Mills developed a model of micro- and macro-economics that looked at the concept of “typical consulting” as it related to the point of diminishing marginal returns. His idea was to help alleviate the stress levels of business owners while simultaneously improving their sales and profits through the services of a part-time CFO. But when he pitched the concept of CFO services to his co-workers, he recalls, they weren’t as excited about it as he was. “It just wasn’t what they did at Arthur Andersen,” Mills says. “They concentrated mainly on audits and tax returns, and so this just didn’t fit in with the type of work that they did.” Undaunted, Mills decided to launch his own company based on his theories and research. “I thought it was a great idea, so I did it solely on...
Finding Financial Solutions

Finding Financial Solutions

SOURCE: GO GILBERT! MAGAZINE DATE: 09/21/2011 Businesses in the spotlight Finding Financial Solutions: Jerry Mills uses his expertise to give corporate-level financial support to small and mid-size businesses By: SUSAN LANIER-GRAHAM In the mid-1980s, Jerry Mills was a manager at the accounting giant Arthur Anderson & Company in Phoenix. He examined the market and found a very real gap in support for mid-market companies. Mills realized that businesses often fall into traps in a time of growth because of the inability to manage cash flow effectively. While that management job falls to the Chief Financial Officer (CFO) in larger corporations, budgets don’t usually allow small and mid-sized businesses to fill that role. That’s where Mills knew he could help. In 1987, he launched B2B CFO to offer financial and management solutions to small and medium-sized companies. “Every company needs a CFO, but not every company can afford one. Our model makes it possible,” Mills explains. “Just as a company doesn’t need a full-time attorney, it doesn’t need a full-time CFO. We are there when they need us.” He adds that his company strives to provide customers with a sophisticated service at a cost they can afford. What began out of his home two decades ago now has more than 174 partners across the country, servicing more than 550 clients with combined annual sales totaling $5 billion and employing 30,000 people. For the second year in a row, Inc. magazine has named B2B CFO to the Inc. 500/5000 list of fastest-growing companies in America. “To be awarded this, especially during a recession, is quite an accomplishment,” Mills explains. “It’s also...
B2B CFO Ranks in Arizona’s Top 25 Fastest Growing Comapnies

B2B CFO Ranks in Arizona’s Top 25 Fastest Growing Comapnies

B2BCF0 RANK: No. 23 on the fast-growth list FOUNDER AND CEO: Jerry Mills HQ: Phoenix FOUNDED: 1987 EMPLOYEES: 197 partners across 39 states and four full-time employees in Mesa  REVENUE INCREASE, 2009-10: 46.5 percent Q&A with founder Jerry L. Mills How do you maintain fast growth through the years? Maintaining steady, fast growth has been a matter of setting goals and then working diligently to build an infrastructure that supports our team and allows us to achieve our goals. It is also a matter of constant evaluation and making periodic adjustments to the process of the goal achievement. For example, when new technologies become available or when a process can be improved, we need to always adjust our course — first direction, then velocity. How does growth become a part of your business culture? I review my goals weekly. I also leverage the expertise and help from a personal coach who goes over my goals with me and helps me augment and expand them, causing me to stretch and grow at all times. I go over our goal achievements each month with the staff so the team will constantly have our progress in front of them. Making sure everyone knows the direction and the goals is crucial to our success. Looking out 12 months, what is your greatest obstacle to continued growth? I see absolutely no obstacles that will impede our ability to achieve and meet our...
B2B CFO’S FOUNDER AND CHIEF EXECUTIVE OFFICER NAMED AMONG THE TOP 100 SMALL BUSINESS INFLUENCERS

B2B CFO’S FOUNDER AND CHIEF EXECUTIVE OFFICER NAMED AMONG THE TOP 100 SMALL BUSINESS INFLUENCERS

Jerry L. Mills Named in the Inaugural Ranking that Honors People and Corporations with Significant Impact on North American Small Business Market    Phoenix, Ariz.,  August 22, 2011  —   Jerry L. Mills, founder and chief executive officer of B2B CFO was named  among the “Top 100 Small Business Influencers” in North America in an inaugural awards program created jointly by Small Business Trends and Small Business Technology. Small Business Influencer recognition was established to honor companies, organizations and people who have made a significant impact on the North American small business market. Over 125,000 votes were cast, on behalf of 520 nominees.   In addition to the votes, the top 100 were decided by an expert panel of Judges with deep and wide knowledge of the small business market. The Judges’ votes weighted 60%, along with the community votes at 40%, to choose the final 100 Small Business Influencers. All honorees will be recognized at the Awards Gala and Reception in New York City on September 13, 2011. “I’m honored to be recognized among such a great group of thought leaders and service providers to the SMB market,” said Jerry L. Mills, founder and CEO of B2B CFO.  “It is a great tribute to the growth of our firm and the need for the services we provide to small businesses around the country.” B2B CFO’s growth is reflected in numerous awards.  The company made the prestigious Inc. 5000 list for two consecutive years as well as in ACE Corporate Growth Awards, which recognizes the 25 most successful and fastest growing private companies in Arizona.   B2B CFO was also named the...